WASHINGTON, Sept 18 (Reuters) -

GameStop ( GME ) CEO Ryan Cohen agreed to pay a nearly $1 million

penalty to settle the U.S. Federal Trade Commission's claim that

he failed to report acquisition of more than $100 million worth

of Wells Fargo & Co ( WFC ) voting shares, the agency said on Wednesday.

Cohen failed to notify the agency as required when he

amassed shares above the $100 million threshold in 2018, the

agency said. He had not purchased the shares solely as an

investor, but had given bank management input into how to run

its business and sought a board seat, according to the FTC.

He ultimately reported the transactions to the FTC in

2021.

An attorney for Cohen did not immediately respond to a

request for comment.